Bellwether Advisors LLC Has $306,000 Position in Meta Platforms, Inc. (NASDAQ:META)

Bellwether Advisors LLC lifted its stake in Meta Platforms, Inc. (NASDAQ:META) by 33.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 535 shares of the social networking company’s stock after acquiring an additional 134 shares during the quarter. Bellwether Advisors LLC’s holdings in Meta Platforms were worth $306,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. POM Investment Strategies LLC purchased a new stake in shares of Meta Platforms during the 2nd quarter worth about $38,000. Ruedi Wealth Management Inc. raised its position in Meta Platforms by 122.2% during the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock valued at $40,000 after acquiring an additional 44 shares in the last quarter. Halpern Financial Inc. acquired a new stake in Meta Platforms in the third quarter valued at approximately $46,000. West Financial Advisors LLC bought a new stake in Meta Platforms in the third quarter worth approximately $49,000. Finally, NewSquare Capital LLC increased its stake in shares of Meta Platforms by 221.9% during the 2nd quarter. NewSquare Capital LLC now owns 103 shares of the social networking company’s stock worth $52,000 after purchasing an additional 71 shares during the last quarter. 79.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Javier Olivan sold 620 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $557.00, for a total value of $345,340.00. Following the transaction, the chief operating officer now owns 19,992 shares of the company’s stock, valued at approximately $11,135,544. This trade represents a 3.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark Zuckerberg sold 7,975 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $516.36, for a total transaction of $4,117,971.00. Following the sale, the chief executive officer now directly owns 531,884 shares of the company’s stock, valued at approximately $274,643,622.24. This trade represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,843 shares of company stock valued at $92,083,554. Company insiders own 13.71% of the company’s stock.

Meta Platforms Stock Down 0.7 %

Shares of NASDAQ META opened at $559.14 on Friday. Meta Platforms, Inc. has a 12-month low of $313.66 and a 12-month high of $602.95. The firm’s 50-day simple moving average is $572.74 and its 200 day simple moving average is $523.96. The company has a quick ratio of 2.73, a current ratio of 2.73 and a debt-to-equity ratio of 0.18. The company has a market cap of $1.41 trillion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 1.24 and a beta of 1.22.

Meta Platforms (NASDAQ:META) last announced its earnings results on Wednesday, October 30th. The social networking company reported $6.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.19 by $0.84. Meta Platforms had a net margin of 35.55% and a return on equity of 35.60%. The company had revenue of $40.59 billion for the quarter, compared to analyst estimates of $40.21 billion. On average, research analysts expect that Meta Platforms, Inc. will post 22.53 earnings per share for the current fiscal year.

Meta Platforms Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, September 16th were given a $0.50 dividend. The ex-dividend date was Monday, September 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.36%. Meta Platforms’s payout ratio is 9.42%.

Analyst Ratings Changes

META has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Meta Platforms from $525.00 to $585.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Tigress Financial increased their price objective on Meta Platforms from $575.00 to $645.00 and gave the company a “strong-buy” rating in a report on Friday, August 16th. Pivotal Research boosted their target price on Meta Platforms from $780.00 to $800.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Monness Crespi & Hardt raised their target price on shares of Meta Platforms from $620.00 to $660.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, DA Davidson assumed coverage on Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 price target on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $634.10.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.